Amalgamated Bank Has $2.65 Million Holdings in A. O. Smith Co. (NYSE:AOS)

Amalgamated Bank increased its stake in A. O. Smith Co. (NYSE:AOS) by 27.0% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 32,422 shares of the industrial products company’s stock after purchasing an additional 6,900 shares during the period. Amalgamated Bank’s holdings in A. O. Smith were worth $2,651,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in AOS. Algebris UK Ltd lifted its position in A. O. Smith by 2.3% during the 1st quarter. Algebris UK Ltd now owns 6,109 shares of the industrial products company’s stock worth $506,000 after buying an additional 140 shares in the last quarter. Empirical Finance LLC lifted its position in A. O. Smith by 3.3% during the 1st quarter. Empirical Finance LLC now owns 4,618 shares of the industrial products company’s stock worth $413,000 after buying an additional 149 shares in the last quarter. American International Group Inc. lifted its position in A. O. Smith by 0.5% during the 4th quarter. American International Group Inc. now owns 33,231 shares of the industrial products company’s stock worth $2,740,000 after buying an additional 163 shares in the last quarter. Kessler Investment Group LLC lifted its position in A. O. Smith by 3.5% during the 2nd quarter. Kessler Investment Group LLC now owns 5,087 shares of the industrial products company’s stock worth $416,000 after buying an additional 173 shares in the last quarter. Finally, Scotia Capital Inc. lifted its position in A. O. Smith by 2.4% during the 4th quarter. Scotia Capital Inc. now owns 7,726 shares of the industrial products company’s stock worth $637,000 after buying an additional 180 shares in the last quarter. 76.10% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other A. O. Smith news, SVP Samuel M. Carver sold 14,705 shares of the stock in a transaction that occurred on Wednesday, August 7th. The shares were sold at an average price of $81.00, for a total transaction of $1,191,105.00. Following the transaction, the senior vice president now owns 2,399 shares in the company, valued at approximately $194,319. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 2.70% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on AOS. UBS Group upped their target price on shares of A. O. Smith from $73.00 to $75.00 and gave the company a “sell” rating in a report on Monday, July 8th. StockNews.com raised shares of A. O. Smith from a “hold” rating to a “buy” rating in a report on Tuesday, August 13th. Stifel Nicolaus raised shares of A. O. Smith from a “hold” rating to a “buy” rating and upped their target price for the company from $97.00 to $98.00 in a report on Wednesday, July 24th. Finally, Robert W. Baird dropped their target price on shares of A. O. Smith from $92.00 to $90.00 and set a “neutral” rating on the stock in a report on Wednesday, July 24th. One analyst has rated the stock with a sell rating, four have given a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $89.67.

A. O. Smith Stock Up 2.1 %

Shares of AOS opened at $85.72 on Wednesday. A. O. Smith Co. has a 52 week low of $64.14 and a 52 week high of $92.44. The firm has a market cap of $12.57 billion, a P/E ratio of 22.21, a price-to-earnings-growth ratio of 2.23 and a beta of 1.15. The firm’s 50-day simple moving average is $82.07 and its 200 day simple moving average is $83.95. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.07 and a current ratio of 1.70.

A. O. Smith (NYSE:AOS) last announced its quarterly earnings results on Tuesday, July 23rd. The industrial products company reported $1.06 EPS for the quarter, missing analysts’ consensus estimates of $1.07 by ($0.01). A. O. Smith had a net margin of 14.67% and a return on equity of 31.04%. The company had revenue of $1.02 billion during the quarter, compared to analyst estimates of $1 billion. During the same quarter last year, the company posted $1.01 EPS. The firm’s quarterly revenue was up 6.6% on a year-over-year basis. On average, analysts forecast that A. O. Smith Co. will post 4.07 earnings per share for the current year.

A. O. Smith Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 15th. Shareholders of record on Wednesday, July 31st were given a dividend of $0.32 per share. The ex-dividend date of this dividend was Wednesday, July 31st. This represents a $1.28 dividend on an annualized basis and a dividend yield of 1.49%. A. O. Smith’s payout ratio is presently 33.16%.

About A. O. Smith

A. O. Smith Corporation manufactures and markets residential and commercial gas and electric water heaters, boilers, heat pumps, tanks, and water treatment products in North America, China, Europe, and India. The company offers water heaters for residences, restaurants, hotels, office buildings, laundries, car washes, and small businesses; boilers for hospitals, schools, hotels, and other large commercial buildings, as well as homes, apartments, and condominiums; and water treatment products comprising point-of-entry water softeners, well water solutions, and whole-home water filtration products, and point-of-use carbon and reverse osmosis products for residences, restaurants, hotels, and offices.